Category Archives: Economics

NSA Whistleblower William Binney Joins Richard Gage to Call for 9/11 Truth

William Binney was a 30 year veteran official of the National Security Agency who resigned in October 2001 to blow the whistle on the NSA’s deliberate violation of the constitution. Now, 13 years after the events of 9/11 that helped the NSA justify its total surveillance dragnet, Binney has signed the Architects and Engineers for 9/11 Truth’s petition calling for a new investigation into 9/11. Today we talk to Richard Gage, founder of AE911Truth.org, and William Binney himself, about this petition, its significance, and the ongoing quest for 9/11 truth and justice.

Show notes at http://www.corbettreport.com/interview-937-nsa-whistleblower-william-binney-joins-richard-gage-to-call-for-911-truth/

The Enemy Within Pushes World Out of Dollar System

Unless of course you think washington is run by idiots.  To be sure, there are idiots in washington, but they’re not running the show.  The financial speculators behind the scenes know exactly what they’re doing.

In this episode we speak with James Corbett of CorbettReport.com about how the West is creating and funding it’s own enemies abroad. We discussed in this program how Russia has been backed into a position where it must unite with its neighbors politically, with others in the BRICs nations economically, and China militarily in an effort to counteract NATO/US/EU encroachment into Russia’s sphere of influence. We also speak about how western intelligence agencies have created, funded, and propagandized on behalf of ISIS, again, creating another external threat. Finally we comment on the protests in Furgeson and how the media and police are exaserbating the problem. Join us as we discuss the major issues of the world today.

Show notes at http://www.corbettreport.com/interview-938-our-troubled-times-the-wests-engineered-downfall/

De-Dollarization Continues: China-Argentina Agree Currency Swap, Will Trade In Yuan

It appears there is another nation on planet Earth that is becoming isolated. One by one, Russia and China appear to be finding allies willing to ‘de-dollarize'; and the latest to join this trend is serial-defaulter Argentina. As Reuters reports, China and Argentina’s central banks have agreed a multi-billion dollar currency swap operation “to bolster Argentina’s foreign reserves” or “pay for Chinese imports with Yuan,” as Argentina’s USD reserves dwindle. In addition, Argentina claims China supports the nation’s plans in the defaulted bondholder dispute.

Having met ‘on the sidelines’ in Basel, Switzerland in July, Argentine and Chinese central banks agreed to a currency swap equivalent to $11b that Cabinet Chief Jorge Capitanich said could be used to stabilize reserves.. (as Reuters reports)…

http://www.zerohedge.com/news/2014-09-07/de-dollarization-continues-china-argentina-agree-currency-swap-will-trade-yuan

Fed Pulls Rug Out From Under Municipal Finances

In an inscrutable move that has alarmed state treasurers, the Federal Reserve, along with the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency, just changed the liquidity requirements for the nation’s largest banks. Municipal bonds, long considered safe liquid investments, have been eliminated from the list of high-quality liquid collateral. assets (HQLA). That means banks that are the largest holders of munis are liable to start dumping them in favor of the Treasuries and corporate bonds that do satisfy the requirement.

Muni bonds fund the nation’s critical infrastructure, and they are subject to the whims of the market: as demand goes down, interest rates must be raised to attract buyers. State and local governments could find themselves in the position of cash-strapped Eurozone states, subject to crippling interest rates. The starkest example is Greece, where rates went as high as 30% when investors feared the government’s insolvency. Sky-high interest rates, in turn, are the fast track to insolvency. Greece wound up stripped of its assets, which were privatized at fire sale prices in a futile attempt to keep up with the bills.

The first major hit to US municipal bonds occurred with the downgrade of two major monoline insurers in January 2008. The fault was with the insurers, but the taxpayers footed the bill.  The downgrade signaled a simultaneous downgrade of bonds from over 100,000 municipalities and institutions, totaling more than $500 billion. The Fed’s latest rule change could be the final nail in the municipal bond coffin, another misguided move by regulators that not only does not hit its mark but results in serious collateral damage to local governments – maybe serious enough to finally propel them into bankruptcy.

Why this unprecedented move by US regulators? It is not because municipal bonds are too risky, since corporate bonds with lower credit ratings are accepted under the new rules. Nor is it that the stricter standard is required by the Basel Committee on Banking Supervision (BCBS), the BIS-based global regulator agreed to by the G20 leaders in 2009. The Basel III Accords set by the BCBS are actually more lenient than the US rules and do not include these HQLA requirements. So what’s going on?

From the Inscrutable, Unaccountable Fed

The rule change was detailed by Pam Martens and Russ Martens in a September 4th article titled “The Fed Just Imposed Financial Austerity on the States.”    They write that on September 3rd:

The Federal regulators adopted a new rule that requires the country’s largest banks – those with $250 billion or more in total assets – to hold an increased level of newly defined “high quality liquid assets” (HQLA) in order to meet a potential run on the bank during a credit crisis. In addition to U.S. Treasury securities and other instruments backed by the full faith and credit of the U.S. government (agency debt), the regulators have included some dubious instruments while shunning others with a higher safety profile.

Bizarrely, the Fed and its regulatory siblings included investment grade corporate bonds, the majority of which do not trade on an exchange, and more stunningly, stocks in the Russell 1000, as meeting the definition of high quality liquid assets, while excluding all municipal bonds – even general obligation municipal bonds from states with a far higher credit standing and safety profile than BBB-rated corporate bonds.

This, rightfully, has state treasurers in an uproar. The five largest Wall Street banks control the majority of deposits in the country. By disqualifying municipal bonds from the category of liquid assets, the biggest banks are likely to trim back their holdings in munis which could raise the cost or limit the ability for states, counties, cities and school districts to issue muni bonds to build schools, roads, bridges and other infrastructure needs. This is a particularly strange position for a Fed that is worried about subpar economic growth. …

That the Fed and its regulatory cohorts have to resort to this implausible plan – which crimps the ability of states and localities to raise essential funds to operate – in a strained effort to pretend that they’ve found a means of avoiding another massive bailout of Wall Street in a crisis, is just further proof that the only way to seriously deal with too-big-to-fail banks is to restore the Glass-Steagall Act and break up these complex creatures before they strike again.

The rule change may not have much effect in a crash, but where it will have a major effect is on the cost of credit, which will increase for municipal governments and decrease for corporate and financial institutions. The result will be to further shift power and financial resources from the public sector to the private sector.

Why would regulators dangerously jeopardize state and local government budgets in this way? Skeptical observers speculate that the intent is to Detroit-ize municipal governments, so that assets can be stripped as is being done in that imperiled city. The international bankers got away with asset-stripping Greece. Why not make the US itself a wholly-owned subsidiary of private banking interests?

If that seems far-fetched, consider what is happening with Argentina, which has been forced into bankruptcy by a US court to satisfy the exaggerated claims of certain hold-out vulture funds. IMF regulators have discussed establishing an international bankruptcy court that could strip a country such as Argentina of its assets, including prime sections of real estate, to pay off the nation’s creditors. …

http://ellenbrown.com/2014/09/08/preparing-to-asset-strip-local-government-the-feds-bizarre-new-rules/

Also see: http://thoughtcrimeradio.net/2014/03/reprise-bernanke-admits-fed-caused-great-depression/

Mortgage Scammers Also Profited from 9/11

9/11 was nothing if not a multi-purpose job.

The fascists got to turn the US into a police state – and make a fortune in the process.

The weapons makers got a super bonus.

Dirt bag politicians who couldn’t get re-elected as dog catchers got to pose as statesmen.

Oil companies got to triple and more the price of a barrel of crude.

Israel got the US war machine unleashed on its enemies and was granted further leave to savagely abuse the Palestinians whose lands they stole.

Even the Twin Tower’s owners got a break. The Twin Towers were packed with asbestos that made the buildings technically in violation of the building code. Abatement would have been financially impossible. 9/11 solved that problem.

9/11 also solved another problem.

It made hundreds of employees of various brokerage houses who were privy to some massively dirty financial dealings disappear – permanently. The explosion at the Pentagon also eliminated some troublesome human resources problems: high level fraud investigators hot on the trail of a massive case.

If you want to trace the claims made in this video, you can do that here: References for Black 911

 

http://realecontv.com/bankers-spooks-and-911/

Russian Strategic Bombers Near Canada Practice Cruise Missile Strikes on US

Two Russian strategic bombers conducted practice cruise missile attacks on the United States during a training mission last week that defense officials say appeared timed to the NATO summit in Wales.

The Russian Tu-95 Bear bombers were tracked flying a route across the northern Atlantic near Iceland, Greenland, and Canada’s northeast.

Analysis of the flight indicated the aircraft were conducting practice runs to a pre-determined “launch box”—an optimum point for firing nuclear-armed cruise missiles at U.S. targets, said defense officials familiar with intelligence reports.

Disclosure of the nuclear bombing practice comes as a Russian general last week called for Moscow to change its doctrine to include preemptive nuclear strikes on the United States and NATO. …

http://freebeacon.com/national-security/russian-strategic-bombers-near-canada-practice-cruise-missile-strikes-on-us/

One can hardly blame them.  NATO has been very clear in its aim to destroy russia at nearly any cost, and guess what, you are expendable.  Your family is expendable.  Your neighbors are expendable.  90+% of the people in your town are expendable.  A nuclear attack by russia would suit the neobamacons just fine.  This country is history, whether through domestic economic war or foreign nuclear war.  Ask yourself: where are the new and refurbished fallout shelters to prepare for the consequences of NATO’s aggression toward russia?  Russia and china have been very busy with their fallout shelters because they aren’t blinded by the military-grade psychological operation which is the american MSM.   ( http://thoughtcrimeradio.net/2012/11/russia-counters-us-nuclear-first-strike-move-from-the-seas/ )Where is your fallout shelter?

Farcebook Supports Sadism, Hates Self Defense

Recently a video was posted on Facebook showing two men lighting a helpless kitten in a bucket on fire, but after multiple users flagged the video, Facebook told them it “doesn’t violate our Community Standards.”

“I was going through Facebook and I saw this video,” user Kieran Dunwel told the Daily Mail. “I clicked on it, watched it and I was disgusted.”

“I reported it to Facebook, it took five or six hours for them to get back to me, and they said it was perfectly fine to have it on there.”

However, when users attempt to talk about guns or post pictures of firearms, Facebook hits them with “Community Standards” violations.

A few days ago, gun rights activist Gerry Emery was banned from Facebook after sharing an article explaining the ways in which Connecticut’s gun ban is worse than Hitler’s gun ban.

Facebook said Emery’s post, which also included an image stating that gun control helped make the Holocaust possible, “doesn’t follow Facebook Community Standards.” …

http://www.prisonplanet.com/facebook-bans-gun-owners-allows-kitten-torture-video.html

Because farcebook articulates the same social and economic forces that gave rise to hitler.   In essence, statism.  The state is god.  Not just in terms of individual behavior, but in terms of being granted the privilege of existing.  Your right to exist is constrained by your utility to the state.  You have no right to defend yourself from higher “authority”.  History (almost) repeats itself.  Again.

One of the many acts of genius of the founders was to invoke a transcendent authority (god), the ultimate sovereign beyond any collectively “self”-appointed authority on this planet.  Whether or not you believe in such a deity, doing so provided the philosophical and legal justification for claiming individual freedom from the state and its corruption, and the declaration of independence is after all a legal document.  Atheists can invoke no similar “higher authority” to justify pursuing human potential.  A technicality perhaps, but one that even inbred despots can understand.   Life is its own justification.

Of course farcebook is an intelligence dragnet and one would be foolish to use it.

UK Telegraph Discovers Debt Free Money

One could slash private debt by 100pc of GDP, boost growth, stabilize prices, and dethrone bankers all at the same time. It could be done cleanly and painlessly, by legislative command, far more quickly than anybody imagined.

The conjuring trick is to replace our system of private bank-created money — roughly 97pc of the money supply — with state-created money. We return to the historical norm, before Charles II placed control of the money supply in private hands with the English Free Coinage Act of 1666.

Specifically, it means an assault on “fractional reserve banking”. If lenders are forced to put up 100pc reserve backing for deposits, they lose the exorbitant privilege of creating money out of thin air.

The nation regains sovereign control over the money supply. There are no more banks runs, and fewer boom-bust credit cycles. Accounting legerdemain will do the rest. That at least is the argument.

Some readers may already have seen the IMF study, by Jaromir Benes and Michael Kumhof, which came out in August and has begun to acquire a cult following around the world. …